PrimeEnergy Resources Reports 16.4% Revenue Increase, 19.3% Decline in Net Income, and 15.7% Drop in EPS for Q1 2025

Reuters
05-20
PrimeEnergy Resources Reports 16.4% Revenue Increase, 19.3% Decline in Net Income, and 15.7% Drop in EPS for Q1 2025

PrimeEnergy Resources Corporation $(PNRG)$ has reported its first quarter 2025 results, showcasing a 16.4% increase in revenue year-over-year, reaching $50.1 million. This growth is attributed to a substantial rise in oil and gas production, with oil production up 6.0% to 457,000 barrels and natural gas production surging by 106.6% to 2.39 billion cubic feet. Additionally, NGL production saw a remarkable 120.4% growth, totaling 454,000 barrels. Despite the revenue growth, the company experienced a decline in net income, which fell by 19.3% to $9.1 million. The earnings per share $(EPS)$ also decreased by 15.7% to $3.72 compared to the same period in the previous year. PrimeEnergy continued its strategic share buyback program, repurchasing 47,970 shares at a cost of $9.17 million. Since the inception of this program, the company has returned a total of $112.6 million to shareholders through stock repurchases. As of May 19, 2025, the company's outstanding share count stood at 2,428,000, including vested options. The company's total assets increased to $339.3 million at the end of the quarter, up from $324.6 million on December 31, 2024. The company remains focused on the acquisition, development, and production of hydrocarbons, primarily in Texas.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PrimeEnergy Resources Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9454587-en) on May 19, 2025, and is solely responsible for the information contained therein.

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